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141

No one can escape this housing crisis — it's coming for homeowners too (www.abc.net.au)

submitted 11 months ago by [email protected] to c/[email protected]

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Not sure I agree with the title that no one can ”escape” it. I think the wealth hoarding class does very nicely out of everyone else's misery. Perhaps if things don't turn around their grand children might go from owning the whole country to facing a guillotine.

More likely once there is a large enough percentage of people who will have no hope of owning, then they will start to have an effect at the polling booth.

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[–] [email protected] 2 points 11 months ago* (last edited 11 months ago)

People need housing - it's demand is inelastic, meaning that market forces fail around it - people will pay whatever they have to in order to keep a roof over their heads.

For an example of what this market failure looks like when you commodify essentials, look to the US healthcare system.

We're a wealthy society that could provide these essentials, but we'd rather allow people to amass enough personal wealth that they can single-handedly undermine our democracy. Stop playing defence for the people treading on you - the chances of you benefiting from this dynamic are vanishingly small.

Revolutions without the pre-work tend to lead to a reconsolidation of power and resources into autocracy - but there's plenty of other steps we can take in the right direction. Voting and advocacy is a good start.